'bogus transaction' is correct and usable in written English.
You can use it when you want to describe an illegal or fake transaction, for example "The police uncovered a bogus transaction between two suspected fraudsters."
Yukos was taken from Khodorkovsky and the shareholders in a bogus transaction, and handed to Rosneft, a more pliable oil company run by executives aligned with Putin's cronies.
However, Wachovia continued processing fraudulent transactions for that account and others, partly because the bank charged fraud artists a large fee every time a victim spotted a bogus transaction and demanded their money back.
Banks aren't liable for every single bogus transaction, but if they ignore a pattern of illegal activity, they can get in trouble with both DOJ and federal banking agencies.
Large transactions leave no paper trail, and values can be altered through bogus transactions.
But after nearly 25 years, his web of bogus transactions between his various companies unravelled.
The authorities contend that vendors of telecommunications services carried out bogus transactions to avoid paying value-added taxes.
It accuses both of using bogus transactions to improperly inflate A.I.G.'s financial strength and mislead Wall Street analysts.
The Securities and Exchange Commission yesterday accused four Merrill Lynch executives of helping Enron fraudulently inflate its annual profits in 1999 through two bogus transactions.
If you neglect to do that, but report the loss within 60 days of the date your bank sent the statement listing the bogus transactions, your liability is capped at $500 for offline transactions and remains zero online.
Mr. Greenberg and the former A.I.G. chief financial officer Howard I. Smith are on trial, accused of playing a role in engineering bogus transactions that improved the appearance of A.I.G.'s financial results more than a decade ago.
Mr. Greenberg, who was forced out of A.I.G. in 2005, agreed last year to pay $15 million to settle a civil fraud case brought by the Securities and Exchange Commission, and he remains a defendant in a New York State lawsuit filed in 2005 that accuses him of using bogus transactions to mislead Wall Street analysts.
